Vizsla Copper Completes Acquisition of Rg Copper Corp
VIZSLA COPPER COMPLETES ACQUISITION
OF RG COPPER CORP
VANCOUVER, BC
,
June 28, 2023
/CNW/ - Vizsla Copper Corp. (TSXV: VCU) (OTCQB: VCUFF)
(
FRANKFURT
: 97E0) ("
Vizsla Copper
" or the "
Company
") is pleased to announce that, further to
its news releases dated
May 12, 2023
and
June 20, 2023
, it has completed the acquisition (the
"
Acquisition
") of RG Copper Corp.("
RG Copper
"). RG Copper has the right to acquire up to a 70%
interest in the Redgold Copper-Gold Project (the "
Redgold Project
") pursuant to an option
agreement entered into with the owners of the Redgold Project.
"
I appreciate the hard work from the Vizsla Copper team to get this transaction across the line
efficiently and cost-effectively,"
commented
Craig Parry
, Executive Chairman. "
It was important to
close this transaction ahead of our upcoming drill program at the adjacent Woodjam project.
The Redgold project adds to the pipeline of strong drill ready targets and will play a significant role
in our future exploration plans in our district-scale landholdings in the heart of the prolific
Quesnel
terrain."
The Redgold Project
The Redgold Project consists of 58 mineral claims covering an area of 8,278 hectares contiguous
with Imperial Metals' Mount Polley project and Vizsla Copper's Woodjam project. A total of 49 drill
holes have previously been completed on the Redgold Project together with numerous geochemical
(i.e., rock and soil) and geophysical (i.e., induced polarization and magnetics) surveys. Porphyry
related copper-gold mineralization was initially discovered in the early 1970's and over the course of
subsequent exploration programs, at least five zones of copper-gold mineralization have been
discovered. In each of the zones, copper-gold mineralization is associated with late Triassic to early
Jurassic alkaline monzonite or syenite stocks, dykes or intrusive breccias. The Redgold Project was
most recently explored by Gold Fields in 2014 and has been largely dormant since. The most recent
drilling was completed by Gold Fields in 2012. Drill hole RG12-11, drilled at the East Zone,
intersected 0.21% Cu and 0.24 g/t Au over 152 metres and cored 85.6 metres of syenite intrusive
breccia, a common host rock for copper-gold ore at the adjacent Mount Polley mine. Mineralization
at the East Zone remains open to the northeast.
Transaction Details
The Company issued 12,000,000 common shares of the Company (the "
Consideration Shares
") to
the former shareholders of RG Copper as consideration for all of the issued and outstanding shares
of RG Copper. The Consideration Shares will be subject to a four-month hold period pursuant to
applicable Canadian securities laws. In addition, the former shareholders of RG Copper have agreed
to voluntary resale restrictions whereby 25% of the Consideration Shares will become free trading
every six months after closing of the Acquisition.
Additional details regarding the Acquisition and the Redgold Copper-Gold Project are set out in the
Company's news releases dated
May 12, 2023
and
June 20, 2023
.
Figure 1: Woodjam and Redgold Property Map
Figure 1: Woodjam and Redgold Property Map (CNW Group/Vizsla Copper Corp.)
About Vizsla Copper
Vizsla Copper is a Cu-Au-Mo focused mineral exploration and development company headquartered
in
Vancouver, Canada
. The Company is primarily focused on its flagship Woodjam project, located
within the prolific Quesnel Terrane, 55 kilometers east of the community of
Williams Lake, British
Columbia
. It has four additional copper exploration properties: Copperview, Redgold, Blueberry and
Carruthers Pass
, all well situated amongst significant infrastructure in
British Columbia
. The
Company's growth strategy is focused on the exploration and development of its copper properties
within its portfolio in addition to value accretive acquisitions. Vizsla Copper's vision is to be a
responsible copper explorer and developer in the stable mining jurisdiction of
British Columbia,
Canada
and is committed to socially responsible exploration and development, working safely,
ethically and with integrity.
Vizsla Copper is a spin-out of Vizsla Silver (TSX.V: VZLA) (NYSE: VZLA) and is backed by Inventa
Capital Corp., a premier investment group founded in 2017 with the goal of discovering and funding
opportunities in the resource sector. Additional information about the Company is available on
SEDAR (
www.sedar.com
) and the Company's website (
www.vizslacopper.com
).
Qualified Person
The Company's disclosure of technical or scientific information in this press release has been
reviewed and approved by
Ian Borg
, P.Geo., Senior Geologist for Vizsla Copper. Mr. Borg is a
Qualified Person as defined under the terms of National Instrument 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
FORWARD LOOKING STATEMENTS
The information contained herein contains "forward-looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and "forward-looking information"
within the meaning of applicable Canadian securities legislation. "Forward-looking information"
includes, but is not limited to, statements with respect to the activities, events or developments that
the Company expects or anticipates will or may occur in the future, including, without limitation,
planned exploration activities. Generally, but not always, forward-looking information and statements
can be identified by the use of words such as "plans", "expects", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative
connotation thereof or variations of such words and phrases or state that certain actions, events or
results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative
connotation thereof. Forward-looking statements in this news release include, among others,
statements relating to: the exploration and development of the Company's projects; and the
Company's growth and business strategies.
Such forward-looking information and statements are based on numerous assumptions, including
among others, that the results of planned exploration activities are as anticipated, the anticipated
cost of planned exploration activities, that general business and economic conditions will not change
in a material adverse manner, that financing will be available if and when needed and on reasonable
terms, that third party contractors, equipment and supplies and governmental and other approvals
required to conduct the Company's planned exploration activities will be available on reasonable
terms and in a timely manner. Although the assumptions made by the Company in providing forward-
looking information or making forward-looking statements are considered reasonable by
management at the time, there can be no assurance that such assumptions will prove to be
accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties
and other factors, which may cause actual events or results in future periods to differ materially from
any projections of future events or results expressed or implied by such forward-looking information
or statements, including, among others: negative operating cash flow and dependence on third party
financing, uncertainty of additional financing, no known mineral reserves or resources, the limited
operating history of the Company, the influence of a large shareholder, aboriginal title and
consultation issues, reliance on key management and other personnel, actual results of exploration
activities being different than anticipated, changes in exploration programs based upon results,
availability of third party contractors, availability of equipment and supplies, failure of equipment to
operate as anticipated; accidents, effects of weather and other natural phenomena and other risks
associated with the mineral exploration industry, environmental risks, changes in laws and
regulations, community relations and delays in obtaining governmental or other approvals.
Although the Company has attempted to identify important factors that could cause actual results to
differ materially from those contained in the forward-looking information or implied by forward-
looking information, there may be other factors that cause results not to be as anticipated, estimated
or intended. There can be no assurance that forward-looking information and statements will prove
to be accurate, as actual results and future events could differ materially from those anticipated,
estimated or intended. Accordingly, readers should not place undue reliance on forward-looking
statements or information. The Company undertakes no obligation to update or reissue forward-
looking information as a result of new information or events except as required by applicable
securities laws.
SOURCE
Vizsla Copper Corp.
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For further information:
and to sign-up to the mailing list, please contact: Chris Donaldson, Chief
Executive Officer and Director, Tel: (604) 813-3931 | Email: [email protected]
CO: Vizsla Copper Corp.
CNW 08:00e 28-JUN-23